|
U.S. GDP revised to 3.8 % in the second-quarter
GDP, U.S. Economy
The third and final government estimate of second-quarter GDP, shows that the nations output has accelerated in the second-quarter,
Gross domestic product jumped in second-quarter by 3.8 % to $30,486 billions, an increase from $29,825 billions in the forth-quarter on the seasonally adjusted basis, led by 2.5 % increase in consumer spending, adding 1.7 of a percentage point to GDP, reported by the U.S. Commerce Department.
Broad-based economic growth at a solid pace during the second-quarter, raises hopes that, the U.S. economy is on self-sustaining path.
The newly revised growth numbers reinforce the view that the economy remains in a very strong state. Salaries and Worker wages grew by 2.56 % quarterly.
Over the past 12 months, , U.S. output have climbed by 2.1 %. |
Government consumption expenditure and gross investments fell by -0.10 %, government spending on national defense rose 0.90 %, it accounts for 3.73 % of total U.S. economy and 21.69 % of total government spending.
This is the third and final revision in the government's estimate of second-quarter growth in goods and services. The government provides three estimates of economic growth each reflecting more complete information than the previous one.
In the second-quarter real consumer spending was estimated to have increased at a 2.5 % annualized clip, reported by the Commerce Department.
With estimated annual rate of $20,790 billions, seasonally adjusted in the forth-quarter, consumer spending accounts for 69.95 % of economic activity.
Spending on U.S. made Goods increased by 2.2 %, where consumption of Durable Goods grew by 2.3 %, helped by improving consumption of other durable goods.
The bright spot of consumer spending was the increasing demand for nondurable goods, by 2.6 %, was driven by higher clothing and shoes sales, up 5.14 %.
One of most important sectors in U.S., the sevice sector grew by 2.2 %, led by growing demand for electricity and gas. Consumer spending for services accounts for 70.67% of total speding and 48.18% of total Gross national product.
Final sales for domestic product, considered a measure of domestic demand because it excludes inventories and trade, jumped at a 7.5 % rate in the second-quarter after rising 3.2 % in the forth-quarter.
• More on U.S. Real Gross Domestic Product
|
|
Contributions
to Percent Change in Real GDP |
|
1.68% |
-2.66% |
-0.01% |
-0.33% |
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
Investments dropped by -13.80 % to $5,359 billions, despite the increase in Gross national product on the seasonally adjusted basis.
Liquidation of inventory from April-through-June acted as a major drag on growth, but that liquidation will set the stage for stronger growth later after companies have brought supply back in line with demand.
|
|
|
|
Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
II Quarter
2025
final |
IV Quarter
2024
final |
III Quarter
2024
rev. |
II Quarter
2024
final |
I Quarter
2024
final |
IV Quarter
2023
final |
| Gross domestic product (GDP) |
|
3.8 % |
2.3 % |
3 % |
3 % |
-0.5 % |
3.4 % |
|
Personal consumption expenditures |
|
2.5 % |
4.2 % |
2.8 % |
2.8 % |
0.5 % |
3.3 % |
| Goods |
|
2.2 % |
3.8 % |
1.7 % |
1.7 % |
2.1 % |
2.9 % |
| Durable goods |
|
2.3 % |
12.1 % |
5.5 % |
5.5 % |
-3.7 % |
3.2 % |
| Nondurable goods |
|
2.6 % |
3.1 % |
2.7 % |
2.7 % |
0.6 % |
3.4 % |
| Services
|
|
2.2 % |
6.6 % |
3 % |
3 % |
0.1 % |
3 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
-13.8 % |
-5.6 % |
8.3 % |
8.3 % |
23.8 % |
0.7 % |
| Fixed investment |
|
4.4 % |
-0.6 % |
2.3 % |
2.3 % |
7.6 % |
3.5 % |
| Nonresidential |
|
7.3 % |
-2.2 % |
3.9 % |
3.9 % |
10.3 % |
3.7 % |
| Structures |
|
-7.5 % |
-1.1 % |
0.2 % |
0.2 % |
-2.4 % |
10.9 % |
| Equipment &
software |
|
8.5 % |
-7.8 % |
9.8 % |
9.8 % |
23.7 % |
-1.1 % |
| Residential |
|
-5.1 % |
5.3 % |
-2.8 % |
-2.8 % |
-1.3 % |
2.8 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
-1.8 % |
-0.8 % |
1 % |
1 % |
0.4 % |
5.1 % |
| Goods |
|
-4.7 % |
-5 % |
0.9 % |
0.9 % |
6.5 % |
6.2 % |
| Services |
|
3.5 % |
7.2 % |
1.2 % |
1.2 % |
-9.7 % |
2.8 % |
| Imports
|
|
-29.3 % |
-0.8 % |
7.6 % |
7.6 % |
37.9 % |
2.2 % |
| Goods |
|
-35 % |
-4 % |
8.4 % |
8.4 % |
51.6 % |
1.3 % |
| Services |
|
-1.2 % |
12.8 % |
4.3 % |
4.3 % |
-6.3 % |
6.2 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
-0.1 % |
2.5 % |
3.1 % |
3.1 % |
-0.6 % |
4.6 % |
| Federal |
|
-5.3 % |
3.2 % |
4.3 % |
4.3 % |
-4.6 % |
2.4 % |
| National defense |
|
0.9 % |
3.3 % |
6.4 % |
6.4 % |
-7.1 % |
0.5 % |
| Nondefense |
|
-13 % |
3.1 % |
1.5 % |
1.5 % |
-1.2 % |
4.8 % |
| State & local |
|
3.1 % |
2 % |
2.3 % |
2.3 % |
2 % |
6 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
7.5 % |
3.2 % |
1.9 % |
1.9 % |
-3.1 % |
3.9 % |
| Gross domestic purchases |
|
-1 % |
2.2 % |
3.8 % |
3.8 % |
4.1 % |
3.1 % |
| Final sales to domestic
purchasers |
|
2.4 % |
3.1 % |
2.8 % |
2.8 % |
1.5 % |
3.5 % |
| Gross national product
(GNP) |
|
3.6 % |
- % |
2.7 % |
2.7 % |
-1 % |
3.3 % |
| Disposable personal income |
|
3.1 % |
2.8 % |
1 % |
2.4 % |
2.5 % |
2 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
6 % |
4.5 % |
5.6 % |
5.6 % |
3.2 % |
5.1 % |
| Final sales of domestic product |
|
9.7 % |
5.5 % |
4.5 % |
4.5 % |
0.6 % |
5.6 % |
| Gross domestic purchases |
|
4.4 % |
5.3 % |
5.3 % |
5.3 % |
4.9 % |
5.5 % |
| Final sales to domestic purchasers |
|
4.6 % |
5.4 % |
5.3 % |
5.3 % |
5.1 % |
5.3 % |
| GNP |
|
5.8 % |
- % |
5.3 % |
5.3 % |
2.7 % |
5 % |
| Disposable personal income |
|
5.3 % |
5.2 % |
3.6 % |
5 % |
6.2 % |
3.8 % |
| |
|
|
|
|
|
|
Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
II Quarter
2025
final |
IV Quarter
2024
final |
III Quarter
2024
final |
II Quarter
2024
final |
I Quarter
2024
final |
IV Quarter
2023
final |
| Gross domestic product (GDP) |
|
2.1 % |
2.5 % |
2.7 % |
3 % |
2 % |
3.1 % |
|
Personal consumption expenditures |
|
2.7 % |
3.1 % |
2.9 % |
2.7 % |
2.7 % |
2.7 % |
| Goods |
|
3.2 % |
2.1 % |
2.2 % |
1.9 % |
2.9 % |
2 % |
| Durable goods |
|
4.9 % |
5.7 % |
3.5 % |
2.6 % |
5.3 % |
5.8 % |
| Nondurable goods |
|
2.2 % |
3.1 % |
3.1 % |
2.9 % |
2.3 % |
2.4 % |
| Services
|
|
3.8 % |
3.3 % |
2.7 % |
2.1 % |
3.7 % |
3.3 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
- % |
1.6 % |
3.4 % |
5.6 % |
6.3 % |
1.5 % |
| Fixed investment |
|
2.7 % |
2.4 % |
3.5 % |
3.7 % |
2.7 % |
3.6 % |
| Nonresidential |
|
4 % |
2.2 % |
4 % |
3.3 % |
3.7 % |
4.6 % |
| Structures |
|
-5.3 % |
0.6 % |
1.9 % |
3.6 % |
-1.1 % |
16.9 % |
| Equipment &
software |
|
8.1 % |
2.7 % |
5.3 % |
2.4 % |
8.3 % |
-0.6 % |
| Residential |
|
-1.7 % |
2.8 % |
1.9 % |
5.1 % |
-0.8 % |
0.4 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
1.5 % |
2.9 % |
4.1 % |
3.5 % |
2.6 % |
1.8 % |
| Goods |
|
1.4 % |
1.4 % |
4 % |
3.3 % |
3.1 % |
1.9 % |
| Services |
|
1.8 % |
5.8 % |
4.4 % |
3.8 % |
1.8 % |
1.6 % |
| Imports
|
|
1.8 % |
5.7 % |
7 % |
5.6 % |
12.7 % |
-0.1 % |
| Goods |
|
1 % |
4.9 % |
6.8 % |
5.4 % |
14.7 % |
0.5 % |
| Services |
|
4.6 % |
8.8 % |
8 % |
6.5 % |
4.8 % |
-2.7 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
1.9 % |
3.2 % |
3.3 % |
3.5 % |
2.6 % |
4.6 % |
| Federal |
|
0.3 % |
4.2 % |
3.1 % |
2.2 % |
3 % |
3.9 % |
| National defense |
|
2.7 % |
5.5 % |
3.9 % |
2.2 % |
4.2 % |
3.2 % |
| Nondefense |
|
-2.8 % |
2.4 % |
1.9 % |
2.1 % |
1.4 % |
4.8 % |
| State & local |
|
2.8 % |
2.6 % |
3.5 % |
4.3 % |
2.4 % |
5.1 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.6 % |
2.6 % |
2.7 % |
2.7 % |
1.3 % |
3.5 % |
| Gross domestic purchases |
|
2.1 % |
2.9 % |
3.1 % |
3.3 % |
3.3 % |
2.8 % |
| Final sales to domestic
purchasers |
|
2.6 % |
2.6 % |
2.7 % |
2.7 % |
1.3 % |
3.5 % |
| Gross national product
(GNP) |
|
2.1 % |
- % |
2.3 % |
2.9 % |
1.8 % |
3 % |
| Disposable personal income |
|
2.2 % |
2.3 % |
2.6 % |
3.1 % |
1.5 % |
4.1 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
II Q. 2025
final |
IV Q. 2024
final |
III Q. 2024
final |
II Q. 2024
final |
I Q. 2024
final |
IV Q. 2023
final |
| Gross domestic product
(GDP) |
|
30,485.7 |
29,719.6 |
29,354.3 |
29,016.7 |
29,962.0 |
27,957.0 |
|
Personal consumption expenditures |
|
20,789.9 |
20,262.7 |
19,928.2 |
19,682.7 |
20,461.6 |
18,914.5 |
| Goods |
|
6,471.1 |
6,352.5 |
6,264.3 |
6,204.6 |
6,391.1 |
6,255.7 |
| Durable
goods |
|
2,265.7 |
2,230.9 |
2,168.2 |
2,141.8 |
2,216.1 |
2,202.2 |
| Motor vehicles & parts |
|
770.5 |
762.9 |
724.3 |
715.6 |
750.0 |
758.4 |
| Furniture & household equipment |
|
507.3 |
495.9 |
489.0 |
480.5 |
496.1 |
475.7 |
| Other |
|
298.1 |
295.3 |
290.7 |
287.4 |
292.4 |
274.5 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
4,205.4 |
4,121.6 |
4,096.1 |
4,062.8 |
4,175.0 |
4,053.5 |
| Food off-premises consumption |
|
1,521.8 |
1,504.1 |
1,487.6 |
1,471.4 |
1,518.6 |
1,456.6 |
| Clothing
& shoes |
|
556.0 |
528.8 |
523.1 |
521.2 |
534.1 |
520.6 |
| Gasoline,
fuel, oil & other energy goods |
|
411.0 |
423.1 |
436.7 |
456.2 |
435.3 |
478.2 |
| Other |
|
1,716.6 |
1,665.6 |
1,648.7 |
1,614.0 |
1,687.0 |
1,598.1 |
| |
|
|
|
|
|
|
|
| Services |
|
14,318.8 |
13,910.2 |
13,663.9 |
13,478.1 |
14,070.5 |
12,658.8 |
| Housing |
|
13,721.3 |
13,252.2 |
13,041.1 |
12,856.8 |
13,447.0 |
12,098.9 |
| Food services |
|
1,493.0 |
1,457.4 |
1,435.3 |
1,417.5 |
1,461.0 |
1,411.2 |
| Electricity & gas |
|
3,785.6 |
3,622.1 |
3,576.9 |
3,534.0 |
3,687.3 |
3,356.0 |
| Financial services |
|
1,657.4 |
1,608.9 |
1,567.4 |
1,535.8 |
1,643.3 |
1,336.8 |
| Transportation |
|
697.0 |
671.4 |
666.7 |
659.4 |
683.5 |
619.4 |
| Medical
care |
|
3,514.6 |
3,397.7 |
3,341.6 |
3,274.3 |
3,449.8 |
3,087.0 |
| Recreation |
|
811.5 |
793.7 |
785.6 |
773.6 |
801.8 |
730.8 |
| Other |
|
1,762.2 |
1,701.0 |
1,667.7 |
1,662.2 |
1,720.4 |
1,557.7 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
5,358.6 |
5,289.9 |
5,347.7 |
5,297.8 |
5,595.7 |
4,954.4 |
| Fixed investment |
|
5,404.4 |
5,274.4 |
5,263.7 |
5,201.1 |
5,388.7 |
4,884.3 |
| Nonresidential |
|
4,207.5 |
4,073.1 |
4,084.0 |
4,018.5 |
4,179.5 |
3,783.5 |
| Structures |
|
891.3 |
910.6 |
906.3 |
916.0 |
913.9 |
876.6 |
| Equipment & software |
|
1,625.0 |
1,516.1 |
1,547.2 |
1,499.7 |
1,602.8 |
1,383.9 |
| Information processing equipment & software |
|
606.5 |
510.7 |
518.0 |
495.1 |
587.5 |
463.0 |
| Computers & peripheral equipment |
|
115.5 |
114.2 |
113.3 |
113.5 |
114.4 |
112.4 |
| Software |
|
745.9 |
716.0 |
707.0 |
690.7 |
730.6 |
655.5 |
| Other |
|
829.8 |
816.3 |
810.2 |
798.6 |
817.8 |
755.1 |
| Industrial equipment |
|
338.0 |
329.1 |
329.0 |
323.2 |
335.4 |
306.1 |
| Transportation equipment |
|
366.7 |
354.2 |
371.9 |
349.8 |
359.1 |
291.2 |
| Other equipment |
|
313.8 |
322.0 |
328.4 |
331.5 |
320.8 |
323.5 |
| Residential |
|
1,196.9 |
1,201.3 |
1,179.6 |
1,182.6 |
1,209.3 |
1,100.8 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
-45.8 |
15.5 |
84.0 |
96.8 |
207.0 |
70.1 |
| Farm |
|
10.3 |
10.9 |
10.1 |
7.7 |
4.1 |
-1.6 |
| Nonfarm |
|
-56.0 |
4.5 |
73.9 |
89.1 |
202.9 |
71.7 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-899.8 |
-931.1 |
-954.1 |
-906.9 |
-1,245.1 |
-783.7 |
| Exports |
|
3,267.5 |
3,218.6 |
3,204.1 |
3,154.3 |
3,266.4 |
3,051.7 |
| Goods |
|
2,081.3 |
2,057.2 |
2,088.4 |
2,053.4 |
2,121.0 |
2,039.3 |
| Services |
|
1,186.2 |
1,161.4 |
1,115.7 |
1,100.9 |
1,145.4 |
1,012.4 |
| |
|
|
|
|
|
|
|
| Imports |
|
4,167.3 |
4,149.7 |
4,158.3 |
4,061.2 |
4,511.6 |
3,835.4 |
| Goods |
|
3,279.3 |
3,289.4 |
3,331.6 |
3,252.8 |
3,667.3 |
3,123.1 |
| Services |
|
888.0 |
860.2 |
826.7 |
808.4 |
844.3 |
712.3 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
5,237.0 |
5,098.1 |
5,032.6 |
4,943.0 |
5,149.9 |
4,871.8 |
| Federal |
|
1,956.4 |
1,924.7 |
1,893.4 |
1,842.2 |
1,928.4 |
1,820.0 |
|
National defense |
|
1,135.8 |
1,110.6 |
1,091.3 |
1,051.5 |
1,103.5 |
1,022.0 |
|
Consumption expenditures |
|
890.8 |
866.5 |
851.2 |
823.7 |
855.5 |
794.4 |
|
Gross investment |
|
244.9 |
244.0 |
240.1 |
227.8 |
248.1 |
227.6 |
|
Nondefense |
|
820.7 |
814.2 |
802.1 |
815.7 |
807.3 |
798.0 |
|
Consumption expenditures |
|
596.8 |
580.2 |
571.5 |
562.7 |
587.7 |
565.7 |
|
Gross investment |
|
223.9 |
233.9 |
230.6 |
228.0 |
237.1 |
232.3 |
| State and local |
|
3,280.6 |
3,173.3 |
523.1 |
3,100.9 |
3,221.5 |
3,051.8 |
| Consumption
expenditures |
|
2,644.3 |
2,550.3 |
2,524.5 |
2,495.7 |
2,587.8 |
2,462.6 |
| Gross
investment |
|
636.2 |
623.1 |
614.7 |
605.1 |
633.7 |
589.3 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
30,531.5 |
29,704.2 |
29,270.3 |
28,919.9 |
29,755.1 |
27,886.9 |
| Gross domestic purchases |
|
31,385.5 |
30,650.7 |
30,308.4 |
29,923.6 |
31,207.2 |
28,740.7 |
| Final sales to domestic purchasers |
|
31,431.3 |
30,635.2 |
30,224.4 |
29,826.8 |
31,000.2 |
28,670.6 |
| Gross national product |
|
30,467.4 |
- |
29,369.7 |
29,076.6 |
30,002.7 |
28,117.8 |
| Net domestic product |
|
25,490.9 |
24,801.5 |
24,502.8 |
24,235.7 |
24,998.5 |
23,289.7 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2024
final |
2023
final |
2022
final |
2021
|
2020
|
2019
|
| Gross domestic product (GDP) |
|
2.8 % |
2.9 % |
1.9 % |
5.9 % |
-3.4 % |
2.2 % |
|
Personal consumption expenditures |
|
2.8 % |
2.5 % |
2.5 % |
8.3 % |
-3.8 % |
2.4 % |
| Goods |
|
1.9 % |
0.8 % |
0.6 % |
8.8 % |
3.1 % |
3.1 % |
| Durable goods |
|
2.4 % |
1.9 % |
0.3 % |
12.2 % |
4.6 % |
3.7 % |
| Nondurable goods |
|
2.9 % |
2.9 % |
3.7 % |
6.3 % |
-7.5 % |
1.8 % |
| Services
|
|
4 % |
0.1 % |
4.8 % |
9 % |
-5.5 % |
1.7 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
3.3 % |
3.9 % |
-0.3 % |
18.5 % |
7.7 % |
4.8 % |
| Fixed investment |
|
3.7 % |
6 % |
5.2 % |
6.4 % |
-5.3 % |
2.9 % |
| Nonresidential |
|
3.2 % |
10.8 % |
-2.1 % |
-6.4 % |
-12.5 % |
-0.6 % |
| Structures |
|
3.4 % |
3.5 % |
5.2 % |
10.3 % |
-8.3 % |
2.1 % |
| Equipment &
software |
|
4.1 % |
5.8 % |
9.1 % |
9.7 % |
2.8 % |
6.4 % |
| Residential |
|
4.2 % |
-8.3 % |
-9 % |
10.7 % |
6.8 % |
-1.7 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
3.2 % |
2.8 % |
7 % |
6.1 % |
-13.6 % |
-0.1 % |
| Goods |
|
2.2 % |
2.3 % |
5.8 % |
7.4 % |
-10.2 % |
-0.1 % |
| Services |
|
5.3 % |
3.8 % |
9.6 % |
3.3 % |
-19.8 % |
-0.1 % |
| Imports
|
|
5.4 % |
-1.2 % |
8.6 % |
14.1 % |
-8.9 % |
1.1 % |
| Goods |
|
4.9 % |
-1.8 % |
6.8 % |
14.5 % |
-5.6 % |
0.5 % |
| Services |
|
7.5 % |
1.6 % |
17.5 % |
12.3 % |
-22.6 % |
3.7 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
3.4 % |
3.9 % |
-0.9 % |
0.6 % |
2.5 % |
2.3 % |
| Federal |
|
2.5 % |
2.9 % |
-2.8 % |
2.3 % |
5 % |
4 % |
| National defense |
|
3 % |
3.2 % |
-2.8 % |
-1.2 % |
2.9 % |
5.6 % |
| Nondefense |
|
1.8 % |
2.5 % |
-2.9 % |
7.3 % |
8.1 % |
1.8 % |
| State & local |
|
3.9 % |
4.4 % |
0.2 % |
-0.5 % |
0.9 % |
1.3 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.7 % |
3.3 % |
1.3 % |
5.7 % |
-2.9 % |
2.2 % |
| Gross domestic purchases |
|
3.1 % |
2.3 % |
2.3 % |
7 % |
-3 % |
2.3 % |
| Final sales to domestic
purchasers |
|
3 % |
2.7 % |
1.7 % |
6.7 % |
-2.5 % |
2.3 % |
| Gross national product
(GNP) |
|
- % |
2.7 % |
1.9 % |
5.7 % |
-3.6 % |
2 % |
| Disposable personal income |
|
2.9 % |
5.1 % |
-5.9 % |
1.8 % |
6.2 % |
2.2 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
5.3 % |
6.6 % |
9.1 % |
10.7 % |
-2.2 % |
4 % |
| Final sales of domestic product |
|
5.2 % |
7 % |
8.5 % |
10.5 % |
-1.6 % |
4 % |
| Gross domestic purchases |
|
5.5 % |
5.8 % |
9.3 % |
11.5 % |
-1.9 % |
3.9 % |
| Final sales to domestic purchasers |
|
5.5 % |
6.2 % |
8.7 % |
11.3 % |
-1.3 % |
3.9 % |
| GNP |
|
- % |
6.4 % |
9 % |
10.5 % |
-2.4 % |
3.9 % |
| Disposable personal income |
|
5.4 % |
9 % |
0.2 % |
5.9 % |
7.5 % |
3.7 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2024
|
2023
|
2022
|
2021
|
2020
|
2019
|
| Gross domestic product
(GDP) |
|
29,184.9 |
29,183.8 |
27,720.7 |
23,315.1 |
20,893.7 |
21,433.2 |
|
Personal consumption expenditures |
|
19,825.3 |
19,827.2 |
18,822.8 |
15,902.6 |
14,047.6 |
14,544.6 |
| Goods |
|
6,243.3 |
6,242.8 |
6,123.9 |
5,496.5 |
4,653.8 |
4,512.2 |
| Durable
goods |
|
2,167.4 |
2,167.1 |
2,142.6 |
2,060.2 |
1,616.4 |
1,534.4 |
| Motor vehicles & parts |
|
728.6 |
728.4 |
750.0 |
688.7 |
541.3 |
521.8 |
| Furniture & household equipment |
|
486.0 |
486.0 |
480.4 |
495.0 |
390.4 |
357.4 |
| Other |
|
289.8 |
289.7 |
276.4 |
272.6 |
208.5 |
221.7 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
4,075.9 |
4,075.7 |
3,981.3 |
3,436.3 |
3,037.4 |
2,977.9 |
| Food off-premises consumption |
|
1,481.9 |
1,481.9 |
1,444.0 |
1,205.0 |
1,146.7 |
1,025.7 |
| Clothing
& shoes |
|
522.7 |
522.7 |
510.1 |
461.3 |
362.4 |
403.5 |
| Gasoline,
fuel, oil & other energy goods |
|
439.8 |
439.8 |
467.2 |
369.4 |
246.8 |
335.4 |
| Other |
|
1,631.6 |
1,631.3 |
1,560.0 |
1,400.5 |
1,281.5 |
1,213.3 |
| |
|
|
|
|
|
|
|
| Services |
|
13,582.0 |
13,584.4 |
12,698.9 |
10,406.1 |
9,393.7 |
10,032.4 |
| Housing |
|
12,957.1 |
12,956.9 |
12,144.8 |
9,940.5 |
8,872.9 |
9,593.2 |
| Food services |
|
1,428.4 |
1,428.9 |
1,364.4 |
1,060.9 |
801.5 |
999.5 |
| Electricity & gas |
|
3,552.8 |
3,552.8 |
3,347.7 |
2,775.4 |
2,668.1 |
2,681.2 |
| Financial services |
|
1,557.7 |
1,558.3 |
1,436.3 |
1,275.0 |
1,196.3 |
1,176.1 |
| Transportation |
|
656.5 |
655.7 |
616.9 |
444.1 |
363.4 |
483.4 |
| Medical
care |
|
3,314.2 |
3,312.4 |
3,057.6 |
2,583.5 |
2,308.4 |
2,450.8 |
| Recreation |
|
779.1 |
778.8 |
739.3 |
528.5 |
416.5 |
580.4 |
| Other |
|
1,668.4 |
1,670.0 |
1,582.5 |
1,273.2 |
1,118.5 |
1,221.8 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
5,272.9 |
5,273.2 |
4,984.8 |
4,113.5 |
3,637.8 |
3,751.2 |
| Fixed investment |
|
5,221.0 |
5,220.8 |
4,943.1 |
4,132.6 |
3,697.4 |
3,702.1 |
| Nonresidential |
|
4,034.9 |
4,034.7 |
3,831.6 |
3,025.0 |
2,799.6 |
2,895.0 |
| Structures |
|
913.3 |
912.6 |
884.1 |
598.2 |
597.2 |
650.2 |
| Equipment & software |
|
1,505.9 |
1,505.7 |
1,425.8 |
1,194.0 |
1,123.9 |
1,241.0 |
| Information processing equipment & software |
|
502.0 |
502.0 |
468.7 |
426.7 |
413.9 |
397.2 |
| Computers & peripheral equipment |
|
113.9 |
113.9 |
110.5 |
90.5 |
87.4 |
90.7 |
| Software |
|
696.9 |
697.3 |
645.8 |
512.4 |
453.4 |
411.2 |
| Other |
|
804.9 |
805.4 |
765.4 |
629.8 |
537.7 |
501.9 |
| Industrial equipment |
|
326.4 |
326.4 |
313.1 |
277.3 |
241.7 |
260.9 |
| Transportation equipment |
|
349.5 |
349.3 |
321.7 |
224.5 |
206.0 |
310.3 |
| Other equipment |
|
327.9 |
328.0 |
322.4 |
265.5 |
262.3 |
272.5 |
| Residential |
|
1,186.1 |
1,186.1 |
1,111.5 |
1,107.6 |
897.8 |
807.1 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
52.0 |
52.4 |
41.7 |
-19.1 |
-59.6 |
49.1 |
| Farm |
|
6.0 |
6.2 |
-2.8 |
-3.0 |
-6.0 |
-14.5 |
| Nonfarm |
|
46.0 |
46.2 |
44.5 |
-16.1 |
-53.6 |
63.6 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-903.1 |
-905.8 |
-797.3 |
-861.7 |
-651.2 |
-610.5 |
| Exports |
|
3,180.2 |
3,179.7 |
3,052.5 |
2,539.6 |
2,123.4 |
2,514.8 |
| Goods |
|
2,059.2 |
2,059.0 |
2,022.0 |
1,741.5 |
1,416.6 |
1,636.7 |
| Services |
|
1,121.1 |
1,120.7 |
1,030.5 |
798.2 |
706.8 |
878.0 |
| |
|
|
|
|
|
|
|
| Imports |
|
4,083.3 |
4,085.5 |
3,849.8 |
3,401.4 |
2,774.6 |
3,125.2 |
| Goods |
|
3,261.0 |
3,261.0 |
3,096.1 |
2,844.7 |
2,309.2 |
2,525.6 |
| Services |
|
822.3 |
824.4 |
753.7 |
556.7 |
465.4 |
599.6 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
4,989.7 |
4,989.3 |
4,710.5 |
4,160.7 |
3,859.5 |
3,747.9 |
| Federal |
|
1,867.6 |
1,867.7 |
1,762.6 |
1,609.2 |
1,501.8 |
1,419.2 |
|
National defense |
|
1,070.4 |
1,070.4 |
1,002.1 |
904.0 |
881.3 |
852.4 |
|
Consumption expenditures |
|
838.0 |
838.1 |
783.2 |
713.0 |
700.5 |
676.5 |
|
Gross investment |
|
232.4 |
232.4 |
218.9 |
191.0 |
180.9 |
175.9 |
|
Nondefense |
|
797.2 |
777.0 |
721.7 |
659.7 |
598.8 |
576.8 |
|
Consumption expenditures |
|
567.8 |
567.8 |
537.0 |
533.8 |
461.0 |
420.8 |
|
Gross investment |
|
229.4 |
229.5 |
223.5 |
171.4 |
159.5 |
146.0 |
| State and local |
|
3,122.0 |
3,121.6 |
2,947.9 |
2,551.6 |
2,357.8 |
2,328.7 |
| Consumption
expenditures |
|
2,510.8 |
2,510.9 |
2,403.8 |
2,106.9 |
1,916.5 |
1,897.8 |
| Gross
investment |
|
611.2 |
610.7 |
544.1 |
444.6 |
441.2 |
431.0 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
29,132.9 |
29,131.4 |
27,679.0 |
23,334.2 |
20,953.3 |
21,384.1 |
| Gross domestic purchases |
|
30,087.9 |
30,089.6 |
28,518.1 |
24,176.8 |
21,544.9 |
22,043.7 |
| Final sales to domestic purchasers |
|
30,036.0 |
30,037.2 |
28,476.4 |
24,195.9 |
21,604.5 |
21,994.6 |
| Gross national product |
|
29,243.1 |
- |
27,820.8 |
23,488.2 |
21,116.1 |
21,702.9 |
| Net domestic product |
|
24,368.6 |
24,367.0 |
23,133.0 |
19,483.5 |
17,317.8 |
18,012.3 |
|
